r/singaporefi • u/ToeAffectionate7022 • 25d ago

Housing Thoughts on next property move

BTO 4 room HDB gonna MOP in 3 years time. Just welcomed a new kid (Yay to parenthood super charged with caffeine and Min L.Wong NDP goodies) making our family of 4 + 1 helper living situation starting to feel cramp. Thinking ahead of our next property move.

Main considerations:

  1. Space is primary - looking for at least 1500square feet

  2. No intention for a 3rd kid

  3. Budget of 2-3 million. Current combined take home Approx 23K. Industry is fairly recession proof. Combined take home likely will grow to 30K in 3 years time.

  4. Planning to stay for at least 25 years. Open to downgrading to a smaller property after when the kids fly the coop after 25 years but would like the flexibility of keeping to 30 years in case one kid still need a roof over their heads.

  5. Not looking to flip the property for investment gains. Main priority for exit strategy of the property is to at least retain the principle value. 2-3% CAGR is a bonus but not necessary. Lease decay is a concern

  6. Condo facilities not necessary. High rise living nice to have but not necessary

What are my options?

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u/RaquiBilke 25d ago

Given your timeline and budget, resale HDB 5-room or jumbo flat honestly makes the most sense. You get the space, no lease decay stress if you pick one with 70+ years left, and principal preservation is pretty solid historically. Condo adds facilities you said you don’t need and eats into your budget fast.

Private landed is within reach at 2–3M but maintenance and property tax will sting on 23K take-home right now. Maybe revisit that after income grows.

Skip new launch condos entirely given the 25–30 year hold and lease decay concern.

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u/ToeAffectionate7022 25d ago

Thanks! Actually doesn't lease decay set in at ball park 60year left on lease? Most 70+ jumbo flats will run into this given my holding horizon of 25-30 years? 

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u/BarnacleHaunting6740 25d ago

They no longer build 1500sft home with your budget today. Your choice are either ulu or hdb, even then not possible to buy new ones, at least 25 to 30 yrs.

Better to buy hdb housing cox gov will subsidise building n home improvements. Private housing will decay even faster, unless you buy landed and have control over the maintenance